Policies and Regulation Archives | Be Korea-savvy

Archive by category Policies and Regulation

Yeongam County Opens Coffers for Comprehensive Child Support Plan

Yeongam County Opens Coffers for Comprehensive Child Support Plan

YEONGAM, Feb. 28 (Korea Bizwire) – Yeongam County in South Jeolla Province is rolling out a comprehensive plan to support children from infancy through to university, offering up to 262 million won per child in phased support.  The initiative aims to make Yeongam an ideal place to raise children, with the plan emerging from a review [...]

Gov’t to Designate 6 Metropolitan Cities, 43 Local Areas as Trial Special Education Zones

Gov’t to Designate 6 Metropolitan Cities, 43 Local Areas as Trial Special Education Zones

SEOUL, Feb. 28 (Korea Bizwire) — The government will designate six metropolitan cities and 43 local areas as trial special education zones as part of efforts to develop the regions, the presidential office said Wednesday. The trial zones, which will include the cities of Busan, Daegu, Gwangju and Daejeon, will be eligible to receive between [...]

White House Official Says S. Korean Firms Help Form Supply Chain Ecosystem, Create Decent Jobs

White House Official Says S. Korean Firms Help Form Supply Chain Ecosystem, Create Decent Jobs

WASHINGTON, Feb. 27 (Korea Bizwire) — A senior White House official on Tuesday portrayed South Korean enterprises operating in the United States as helping foster a robust supply chain ecosystem and create decent jobs, Seoul’s foreign ministry said. Lael Brainard, the director of the National Economic Council (NEC), made the point during a meeting with [...]

S. Korea Cuts Over 10,000 Employees at State-run Institutions in 2023

S. Korea Cuts Over 10,000 Employees at State-run Institutions in 2023

SEOUL, Feb. 28 (Korea Bizwire) — The government cut more than 10,000 workers from state-run companies in 2023 as part of efforts to reform and innovate the management of public firms, the finance ministry said Wednesday. Public companies let go of a combined 11,374 workers last year through organization restructuring, voluntary retirement and various other [...]

S. Korean, U.S. Antitrust Regulators Discuss Ways of Stronger Cooperation

S. Korean, U.S. Antitrust Regulators Discuss Ways of Stronger Cooperation

SEOUL, Feb. 28 (Korea Bizwire) — The South Korean and the United States’ antitrust regulators have discussed ways of enhancing bilateral cooperation on antitrust principles to promote economic fair competition, the regulator here said Wednesday. The discussions were made during a meeting between Cho Hong-sun, vice chairperson of the Fair Trade Commission (FTC), and Manish [...]

South Korea Eases Rules for Employees Selling Overseas Stock Rewards

South Korea Eases Rules for Employees Selling Overseas Stock Rewards

SEOUL, Feb. 28 (Korea Bizwire) – Employees of foreign companies in South Korea who receive shares from their overseas headquarters as performance rewards will now be able to sell them directly without needing to transfer them to a domestic brokerage firm first.  The Financial Services Commission announced on February 27 that a revision to the “Enforcement [...]

Hotline on Teachers’ Rights Infringement to Open Next Month

Hotline on Teachers’ Rights Infringement to Open Next Month

SEOUL, Feb. 27 (Korea Bizwire) — A hotline will open next month, allowing teachers to report cases of infringement upon their teaching rights, the education ministry said Tuesday. The plan was announced after the apparent suicide of a young public school teacher distressed by malicious parental complaints last year led to a series of mass [...]

Seoul Unveils New Future Vision for Stagnant Southwestern Region

Seoul Unveils New Future Vision for Stagnant Southwestern Region

SEOUL, Feb. 27 (Korea Bizwire) — The Seoul city government on Tuesday announced a new future vision for its southwestern region, which is considered relatively underdeveloped and depressed compared to other regions of the capital. The vision calls for transforming the region’s manufacturing-centered space into a future high-tech and convergence industrial cluster and adding leisure, [...]

Health Minister Warns Trainee Doctors to Face Punishment unless They Return to Work by Thursday Deadline

Health Minister Warns Trainee Doctors to Face Punishment unless They Return to Work by Thursday Deadline

SEOUL, Feb. 27 (Korea Bizwire) — Health Minister Cho Kyoo-hong said Tuesday that trainee doctors would face legal punishment, including suspension of their licenses, unless they go back to work by the Thursday deadline, stepping up warnings against thousands of junior doctors who left hospitals to protest against a plan to boost medical students. About [...]

Yoon Reveals Strategy to Open up Military Zones for Development

Yoon Reveals Strategy to Open up Military Zones for Development

SEOUL, Feb. 26 (Korea Bizwire) — President Yoon Suk Yeol said Monday the government will release a large area of military-protected land to the public to enable the construction of essential facilities and promote regional economic development. Yoon unveiled the plan during a government-public debate on livelihood issues, which was the 15th in a series and held on a military airfield in Seosan, 98 kilometers southwest of Seoul. Under the plan, Yoon said [...]